Fair Value is the appropriate price for the shares of a company, based on its earnings and growth rate also interpreted as when P/E Ratio = Growth Rate. Estimated return represents the projected annual return you might expect after purchasing shares in the company and holding them over the default time horizon of 5 years, based on the EPS growth rate that we have projected.

Fair Value

XX.XX

N/A

Research that delivers an independent perspective, consistent methodology and actionable insight

Related Research

Germany unveiled sweeping incentives for cheap electric cars and for hybrid vehicles, providing a boost to Volkswagen's electric push while staggered taxes for polluting combustion-engined cars will penalise sports utility vehicles. Buyer incentives for passenger cars, including a lowering of value added tax to 16% from 19% were included as part of a 130 billion euro ($145.74 billion) stimulus package to speed up Germany's recovery from the coronavirus. In addition to a staggered tax on vehicles emitting large amounts of carbon dioxide (CO2), hitting sports utility vehicles, Germany included a 6,000 euro incentive for battery electric cars costing below 40,000 euros.

A European stock market rally paused on Thursday, with investors focussing on a European Central Bank meeting where policymakers are expected to provide more aid for the battered euro zone economy. The pan-European STOXX 600 index slipped 0.5% by 0708 GMT, but held near its early March highs, while eurozone stocks were down 0.6%. Equity markets have bounced strongly this week, with Wall Street's tech-heavy Nasdaq nearing record levels as signs of recovery from a coronavirus-forced recession, optimism over a COVID-19 vaccine and hopes of more stimulus boosted risk appetite.

German carmakers became more optimistic about their prospects for production and exports in May, a survey by the Ifo economic institute showed on Wednesday, a ray of hope for the sector that has been hit hard by the coronavirus pandemic.

Asian stocks were poised to follow the global rally on Wednesday as hopes of more government stimulus bolstered riskier assets and overshadowed a host of other worries from the coronavirus to Hong Kong and growing U.S. civil unrest. Gold is still up more than 18% from a low of $1,450.98 in March because of the economic damage from the pandemic and the massive amounts of money coming from central banks.

Moody's Investors Service, ("Moody's") confirmed the A3 long term issuer rating of Daimler AG (Daimler); the outlook changed to negative from ratings under review. The confirmation of Daimler's ratings at the A3 level primarily reflects our expectation of the group's ability to recover financial metrics appropriate for its rating by 2022. The automotive downturn brought on by the coronavirus will cause a pronounced weakening in Daimler's credit metrics.

U.S. President Donald Trump's vow to use force to end violent protests and reports that China had ordered U.S. soybean purchases to be halted had caused a brief wobble in Wall Street futures, but Europe got shares back on track. The euro hit a two-and-a-half-month high too as the dollar struggled with its home-grown strains, and Italian and Spanish bonds were still being helped by a proposed 750 billion-euro EU stimulus plan and European Central Bank buying. "Even with these rising protests in the U.S. and the situation in Hong Kong at the moment, the market is pushing on and seeing room for optimism."

Germany's Social Democrats expect difficult talks with their coalition partners, Chancellor Angela Merkel's conservatives, on a stimulus package as they want cash incentives to buy a new car to exclude combustion engine vehicles, the SPD's co-leader said. "It will take a long time and probably will not end today," Norbert Walter-Borjans said after an SPD spokeswoman said that a final decision on the stimulus package would be postponed from Tuesday to Wednesday.

U.S. President Donald Trump's vow to use force to end violent protests in American cities and reports that China had ordered U.S. soybean purchases to be halted had caused a brief wobble in Wall Street futures, but Europe got shares back on track. The euro hit a two-and-a-half-month high too as the dollar struggled with its home-grown strains, and Italian and Spanish bonds were still being helped by a proposed 750 billion-euro EU stimulus plan and European Central Bank buying. "Even with these rising protests in the U.S. and the situation in Hong Kong at the moment, the market is pushing on and seeing room for optimism."

European shares inched closer to a three-month high on Tuesday on optimism around a post-coronavirus economic recovery, with German stocks buoyed by a jump for Lufthansa. The pan-European STOXX 600 rose 1% in early deals to hit its highest level since March 9. Lufthansa surged 7.5% as its supervisory board approved a 9 billion euro ($10 billion) government bailout for the airline, driving Frankfurt-listed shares up 2.6% to its peak since March 5.

Lear Corp is implementing costly safety measures that may hurt productivity at its operations in Mexico after suffering the deadliest known factory-related coronavirus outbreak in the Americas, but the U.S. auto parts maker still faces a battle to win back workers' trust. The northern Mexican border city of Ciudad Juarez remains in the throes of the pandemic as it mourns the deaths of numerous factory workers, including 20 from Lear's Rio Bravo plant, which makes trim seat covers for Mercedes-Benz and Ford. "I don't think you'll find anyone who says they're not scared," Alma Sonia Trevizo, an employee at the Rio Bravo plant, told Reuters while on a break from safety training ahead of its planned June 1 partial restart.

Mitsubishi Fuso Truck of America (MFTA) will stop selling Class 4-5 medium-duty trucks in the U.S. and Canada when it runs out of inventory, but it will continue providing parts and service for customers through at least 2028.Mitsubishi Fuso Truck and Bus Corp. (MFTBC), which manufactures commercial vehicles in Asia, announced the move Wednesday after making the decision on Tuesday. MFTBC is a brand of Stuttgart, Germany-based Daimler Trucks."The decision itself was sudden," Bryan Allen, MFTA marketing manager, told FreightWaves.Mitsubishi Fuso accounts for less than 5% of the U.S.-Canada medium-duty truck market, Allen said. It sold a total of 1,400 gas and diesel trucks in the U.S. and Canada in 2019, according to IHS Markit.MFTA will keep most of its 74 Logan Township, New Jersey-based corporate employees in the near term, as well as its headquarters and parts distribution and technical training centers. The fate of 137 sales locations is up to their independent franchisees, Some will convert to parts and service stores, Allen said. Mitsubishi Fuso has 52 stand-alone service outlets.Though its reporting structure is through Daimler Trucks Asia, Mitsubishi Fuso's electric eCanter was included in the Daimler Trucks North America (DTNA) electric truck portfolio that includes the Freightliner eCascadia and eM2 medium-duty straight truck. Globally, about 150 eCanter trucks are in operation under short-term leases, Allen said."We will continue to support those customers until the leases end," he said.The remaining inventory consists of Fuso FE Gas trucks introduced in 2019 specifically for the U.S. and Canada following the discontinuation of a diesel model after the 2018 model year. A few diesel models remain for sale."It's a very competitive market," Allen said. "MFTBC found it nonviable to invest in products specific to the U.S. and Canada."The timing of the decision surprised IHS analyst Antti Lindstrom."I don't quite understand why now because the COVID thing doesn't seem to have anything to do with it," Lindstrom told FreightWaves. "Maybe it's got something to do with Daimler's own branding. It's a little odd that they would have this small brand in this large market that doesn't have a lot of success."Mitsubishi Fuso faced new competition from medium-duty electric truck makers like BYD and Workhorse Group Inc. (NASDAQ: WKHS). DTNA's Freightliner Custom Chassis Corp. (FCCC) unit unveiled its MT50 electric chassis for production this year."Everybody is looking at that delivery segment from the distribution center to the final consumer," Lindstrom said. "Others have much larger volumes."Photo: Misubishi FusoSee more from Benzinga * A Tale Of Two Cities And How They're Welcoming Trucking Facilities * Getting Crews On And Off Ships And Airplanes * US Rail Volumes Rise On A Week-To-Week Basis(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

When Renault SA, Nissan Motor Co and Mitsubishi Motors Corp announced the last strategy plan for their Alliance in September 2017, the goal was to become the world's biggest automaker by 2022. On Wednesday, the Alliance partners will outline a new plan with a less lofty objective: survival. The three carmakers are reeling from the coronavirus pandemic which engulfed them just as they were trying to rework their partnership after the arrest in 2018 and subsequent ouster of its chairman and chief architect, Carlos Ghosn.

Daimler AG plans to invest in Farasis Energy's planned $480 million IPO, aiming to ensure a stable supply of batteries from the Chinese firm as it ramps up electric vehicle production, three people familiar with the matter said. The two firms struck a deal last year for Farasis to supply Daimler with lithium-ion battery cells and Farasis is building a factory in Germany. Daimler and Farasis declined to comment on the potential IPO investment.

Japanese automakers Toyota, Nissan and Honda said they are gradually restarting in Mexico as the nation's automotive industry reboots in line with a broader economic reopening, despite still-high numbers of new coronavirus cases. Mexican officials in mid-May said the automotive industry could exit the coronavirus lockdown before June 1 if approved safety measures were in place. Toyota Motor Corp and Nissan Motor Co Ltd told Reuters on Monday that they were preparing to gradually resume operations, and Honda Motor Co Ltd last Friday said it had begun a gradual return to operations.

China's Geely will explore the possibility of deeper cooperation with German luxury automaker Daimler AG <DAIGn.DE>, its Chairman Li Shufu said on Friday. Geely built a 9.69% stake in Stuttgart-based Daimler in 2018. Geely would also "launch several new products and services to our markets around the world" this year, Li said in a statement to Reuters.

April already was the worst month for Class 8 truck orders in a quarter-century. A late pullback of 10,000 bookings by one manufacturer dropped the month into negative territory with little improvement expected in May and no significant recovery until 2022.That was the conclusion of industry experts Tuesday at the 13th annual Wolfe Research Global Transportation & Industrials Conference conducted online because of the coronavirus pandemic.Tepid projectionsACT Research lowered its estimates for heavy-duty trucks five times in March before settling on a 2020 prediction of 117,000 units. It started at 225,000 trucks, well below 2019's record production of 345,000 trucks.The current ACT production estimate for 2021 calls for 191,000 units because so many orders will be deferred. "There are a lot of young trucks out there," said Kenny Vieth, ACT president and senior analyst. "The private fleets are swimming in capacity."With practically no new truck production in March and April because of stay-at-home orders, bloated inventories are falling as a smattering of business resumes.The removal of 10,000 units from expected production in the next 12-14 months took April's anemic orders of 4,300 closer to a negative 6,000, Vieth said. If the orders come back into the system, they won't count as new orders."Arguably, you could have made the case that instead of 2,800 cancellations, there should have been 12,800 cancellations," Vieth said, adding that May to August typically is the industry's weakest order period.Daimler downtimeDaimler Trucks North America (DTNA), the industry leader in on-highway truck sales, tried to resume U.S. production earlier in May but supply chain issues prevented the restart, said Brian Cota, vice president of sales for the Freightliner brand. The lack of progress against COVID-19 in Mexico is keeping Daimler plants there shuttered."We're waiting for the Mexican government to give the green light to go back to work," Cota said. "The hope is with the supply chain that we can get things started again June 1."Lost production in March and April combined with an expected 30% drop in production in 2020 means DTNA production could fall more than 40% below 2019, Cota said.Daimler has seen fewer order cancellations than it expected, but a significant number of orders scheduled for April delivery are being pushed out as far as August."I would expect [May] to be similar to April from an order intake perspective," Cota said. "I think it's a function of building confidence. We're just not quite there yet. We've still got to get the country turned on."Retail retrenchmentSales to retail customers are showing small signs of improvement, said William "Rusty" Rush, CEO of Rush Enterprises, the nation's largest network of new truck dealerships."In the last 10 days, there's been some slight uptake," he said. "I can look at miles driven for 100,000 trucks for the last four months by week and [see] how it's slightly come back, 8% to 10%, But a week does not make a trend line. We'll continue to see flickers."Rush said the longer-term effects of the pandemic, such as delinquencies and bankruptcies, are not yet visible."You don't realize how many extensions and deferrals have been done on payments," he said. "You might be in double-digit delinquencies right now if you didn't have some of these extensions and deferrals across the board with financial institutions that have been going on with people in trouble."So far, late loan and lease payments are running 3% to 5%. Rush expected them to be 10% or higher. The number of financial institutions working behind the scenes to help people is unknown, he said."If we get a second wave of this thing and shut down again, look out," Rush said. "There would be some tough decisions made."Photo: Jim Allen, FreightwavesSee more from Benzinga * Samsara Lays Off 18% Of Workforce * Intermodal Volumes Will Take Months To Improve, Panel Predicts * Today's Pickup: More Trucks Continue To Cross US-Canada Border(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Bosch introduced its first electronic stability control system (ESC) in 1995 after spending over a decade designing the technology. It was 1983 when Bosch engineers began examining ways to prevent a car from skidding out of control. Mercedes-Benz parent company Daimler carried out similar research during the second half of the 1980s, and it joined forces with Bosch — one of its historic partners — in 1992.

As workers across Germany downed tools during the coronavirus crisis and the economy slipped into recession, Berlin-based K. Rogge Spezialbau kept its builders busy at work. The specialist in interiors and facade renovations is one of Germany's many construction firms that has kept the nation moving even when much of Europe's biggest economy ground to a halt. "Our company and the construction sector in general are definitely doing far better in this coronavirus crisis than companies in other sectors," said Klaus-Dieter Mueller, a managing partner at the firm which employs 170 people.

YUYAO, China/SHANGHAI, May 19 (Reuters) - In the eastern Chinese city of Yuyao, a group of five face-masked workers at a Geely auto plant, stood almost shoulder to shoulder behind an SUV as they conducted paint and other quality checks. China's daily new coronavirus cases have recently dropped to single digits. The most significant rule to be relaxed - in line with an easing of guidelines by local governments - has been the requirement that production line workers stand at least 1 metre apart.